The EUR/GBP pair rose during the session on Wednesday, breaking above the 0.8350 resistance level. However, we see resistance all the way to the 0.8450
The EUR/GBP pair rose during the session on Wednesday, breaking above the 0.8350 resistance level. However, we see resistance all the way to the 0.8450 level, which of course the 0.84 level being the epicenter. With that, we recognize that the market is breaking out to the upside slightly, but there is so much noise that we are hesitant to put money to work. Ultimately, if we want to trade the Euro, we believe that it will be easier to trade the currency against other ones than the British pound which has been doing fairly well.
EUR/GBP Forecast March 13, 2014, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
